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Dear Valued Client,

This edition of our newsletter serves as a reminder that the individual tax return deadline is fast approaching. Please note that the filing deadline is April 17, 2012 this year. Additional coverage includes an important article on employee versus independent contractor classification, relief for distressed taxpayers and much more.

Feel free to share this newsletter with your family, friends and colleagues. This firm relies on satisfied clients as the primary source of new business, and your referrals are both welcome and most sincerely appreciated!



Tax Pro Plus

Tax Filing Deadline Rapidly Approaching


Just a reminder to those who have not yet filed their 2011 tax return that April 17, 2012 is the due date to either file your return and pay any taxes owed, or file for the automatic six-month extension and pay the tax you estimate to be due. Normally the deadline is April 15, but when a due date falls on a weekend or holiday, the due date is extended until the next business day. Thus, since April 15 falls on a Sunday and April 16 is a legal holiday in Washington, D.C. (Emancipation Day), the due date for 2011 tax returns is extended until Tuesday, April 17, 2012.
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Can’t Pay Your Taxes by the April Due Date?


The vast majority of Americans get a tax refund from the IRS each spring, but what if you are one of those who end up owing?
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Are You an Employee or an Independent Contractor?


The distinction has significant implications for both the employer and the employee. Employers like to treat individuals as independent contractors because they avoid having to match the employees’ payroll tax, pay benefits, pay unemployment insurance, etc. This results in a significant savings for employers.
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Penalty Relief for Financially Distressed Taxpayers


The IRS has new penalty relief for the unemployed and certain self-employed individuals on failure-to-pay penalties, which are one of the biggest factors a financially distressed taxpayer faces on a tax bill.
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Individual Estimated Tax Payments for 2012 Start Soon


Our tax system is a “pay-as-you-go” system, and if your pre-paid amount is not enough, you become liable for non-deductible interest penalties. To facilitate that concept, the government has provided several means of assisting taxpayers in meeting the “pay-as-you-go” requirement. The primary among these include:
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Tax Tidbits


From time to time issues related to taxes arise that are interesting, informative or humorous that is not directly related to the preparation of a tax return but are related issues associated with federal taxation.
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Billing for Time and Expenses: How It Works


QuickBooks handles billable expenses capably, but it's critical that you understand the process thoroughly before proceeding.
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The Tax Pro Plus newsletter is available via e-mail on a free subscription basis. You can subscribe or unsubscribe at any time. For more information about - Tax Pro Plus, go to http://www.taxproplus-la.com. This message was sent using ClientWhys Persyst. View our permission marketing policy.

Disclaimer: The tax advice included in this newsletter is an overview of some complex tax rules and is not intended as a thorough in-depth analysis of the tax issues discussed. Do not act on the information included in this newsletter without first determining how these issues apply to your particular set of circumstances and if there are any special tax laws or regulations that might apply to your situation.
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